1. K E Y N O T E
INSTITUTIONAL RESEARCH
India Morning Note
Thursday, July 7, 2011
Domestic Markets Snapshot Views on markets today
Name of Index July 5 July 6 Change (%)
• Indian markets ended a sluggish session on flat to
negative note for second consecutive session taking
Sensex 18,744.56 18,726.97 -0.09%
cues from global markets and as investors held back
CNX Nifty 5,632.10 5,625.45 -0.12% from taking major positions ahead of upcoming
BSE Mid-cap 6,958.91 6,961.51 0.04% quarterly results. Global markets were traded lower as
BSE IT 6,183.36 6,174.88 -0.14% investors remained wary of a slowdown in the global
BSE Banks 13,036.43 12,915.38 -0.93% economy, while Moody's downgrade of Portugal's credit
rating to "junk" status escalated fears on the euro zone
FII Activity (`Cr) debt crisis. The market has been consolidating in a
Date Buy Sell Net narrow band in the past three-four sessions and is
clearly looking for fresh triggers from the quarterly
5-Jul 2662 1801 861
results and the monsoon to take direction. The
4-Jul 2839 1654 1185
downward movement was mainly led by selling
Total July 13504 8781 7404 pressure in banks, pharma, power and IT stocks while
2011 YTD 340253 334208 6045 capital goods, consumer durables, auto and real estate
stocks witnessed some buying activities which gave
MF Activity (`Cr)
some support to the markets. Banking stocks led the
Date Buy Sell Net losses, with banks like SBI and ICICI Bank falling 1.2
5-Jul 363 463 -100 and 2%, respectively.
4-Jul 595 483 112 • Market breadth was marginally strong at ~1.05x as
Total July 1530 1545 1186 investors continuously buying small and mid cap
stocks. FIIs bought equities worth `2.20bn while
2011 YTD 69550 66712 3488
domestic institutions sold equities of `80.23Cr.
Volume & Advances / Declines • Asian markets are mixed today in response to China's
NSE BSE rate hike and in spite of positive close for the US
Trading Volume (`Cr) 9,881 2,674 markets overnight. Bank stocks helped the Hang Seng
to report positive start while auto stocks led the decline
Advances 725 1,462
in Japanese Nikkei.
Declines 716 1,393
• We expect a flat but positive biased opening for the
Unchanged 67 124
Indian markets as the cues from the Asian markets are
Total 1,508 2,979 mixed. Weekly food inflation data may create some
Global Markets volatility in the markets while the investors may stay
cautious ahead of the earnings results season which is
Index Latest Values Change (%) beginning next week. We believe that the global
DJIA 12,626.02 0.4% investors may remain cautious after the news that
NASDAQ 2,834.02 0.3% came late Tuesday, Moody’s Investors Service cut
Nikkei * 10,072.37 -0.1% Portugal’s credit rating to junk, with the move coming
ahead of a much-anticipated European Central Bank
Hang Seng * 22,669.54 0.7%
interest-rate decision due Thursday.
* as of 8.45AM IST
Key events today
Currencies / Commodities Snapshot • Listing of IPO of Birla Pacific Medspa Ltd. (BSE:
Latest Previous 533469), issue price: `10/share and Rushil Decor Ltd.
Quote Close (NSE:RUSHIL, BSE:533470), issue price: `72/ share.
Indian Rupee per $ 44.36 44.49 • Announcement of food and fuel price inflation data
Indian Rupee per € 63.60 63.75 Economic and Corporate Developments
NYMEX Crude Oil($/bbl) 97.28 96.65 • Indian government on Wednesday released the draft
Gold ($/oz) 1,528.80 1,529.20
Micro Financial Sector (Development and Regulation)
Bill, 2011, which seeks to make it mandatory for all
Silver ($/oz) 36.07 35.90 microfinance institutions to be registered with the
Reserve Bank, making it the sector regulator.
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2. K E Y N O T E
INSTITUTIONAL RESEARCH
TOP GAINERS Buzzing Stocks
(BSE A-Group)
• Tata Steel reported its highest-ever quarterly crude
Previous Current Change
Company Name steel production from India at 17.94lakh tonnes in
Close (`) Price (`) (%)
Q1FY12.
Bharat Forge 307.90 322.20 4.64
Torrent Power 236.15 244.65 3.60 • The US health regulator has imposed an import ban
Unitech 33.10 34.25 3.47 on products made at Dr Reddy's Laboratories'
Titan Inds 217.85 223.85 2.75 Mexican plant for violation of current good
Suzlon Energy 50.35 51.65 2.58 manufacturing practices (CGMP).
(BSE Mid-Cap) • Jagran Media Network Investment Pvt Ltd has
Previous Current Change acquired 5.74% stake in Jagran Prakashan Ltd,
Company Name increasing total holding to 11.48%.
Close(`) Price(`) (%)
SPICEMOBIL 104.05 114.00 9.56
• A clutch of investors, including Standard Chartered
Gujarat Fluo 384.20 407.60 6.09
Private Equity (Mauritius) III Ltd, have invested
Bharat Forge 307.90 322.20 4.64 `584.6Cr in GMR Infrastructure’s subsidiary GMR
Sadbhav Engr 136.05 142.25 4.56 Airports Holding.
Wabco TVS India 1066.45 1114.00 4.46
• Punjab National Bank is set to enhance its presence
TOP LOSERS into the Canadian market by setting up a subsidiary
with an estimated capital of `100Cr.
(BSE A-Group)
Previous Current Change • Lupin Pharmaceuticals Inc, a subsidiary company of
Company Name Lupin Ltd. has been granted final approval for
Close(`) Price(`) (%)
LIC Housing Fin 235.70 224.35 -4.82 Abbreviated New Drug Application (ANDA) for
IRB Infra 175.90 168.95 -3.95 Amlodipine / Benazepril 5mg/40mg, and 10mg/40mg
Castrol India 576.80 554.75 -3.82 capsules by the United States Food and Drugs
Indiabulls Fin 172.40 167.70 -2.73
Administration.
Voltas 168.05 163.65 -2.62 US markets
(BSE Mid-Cap) US markets closed higher Wednesday on weak
Previous Current Change volume as the investors recovered after weak
Company Name
Close(`) Price(`) (%) reading on the U.S. services sector and overseas
Greaves Cotton 94.50 89.10 -5.71 debt issues and interest-rate hikes. The Dow Jones
Sterling Intl 235.05 223.30 -5.00 Industrial Average closed up 56.15 points, or 0.5%,
KGN Inds 66.40 63.10 -4.97 at 12,626.02, with 19 of its 30 components rising.
IRB Infra 175.90 168.95 -3.95 The Standard & Poor’s 500 Index rose 1.34 points, or
Tata Teleserv 19.75 19.15 -3.04 0.1%, to close at 1,339.22, with consumer staples
faring best and telecommunications performing the
worst among its 10 industry groups. The Nasdaq
Composite Index advanced 8.25 points to close at
2,834.02.
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